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Market Trends
Commentary Provided byClyde Thorne Kenmare will be a hot spot next year when the energy company starts the wind energy park consisting of 1.2 million acres. |
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| Report Date | Fall 2009 | ||
| Nearest Metro Area | Minot | ||
| Buyers’ or Sellers’ Market | More buyers than sellers | ||
| Average Time on Market | 60-90 days | ||
| Market Trend | Increasing | ||
| Housing Inventory | Limited Supply | ||
| Average Home Price | $225,000 - View Graph Trend | ||
| Best Selling Price Range | $150,000 - $199,000 | ||
| Worst Selling Price Range | $350,000 - $399,000 | ||
| Compared to Last Year | Up 0-5% | ||
| Prices As % of Asking Price | 95-100% | ||
| Multiple Offers? | No | ||
| Greatest Activity | First Time Buyers | ||
| Buyer Activity for the past 90 days in Minot is | Decreasing | ||
| Seller Activity for the past 90 days in Minot is | Decreasing | ||
| Is Financing Available For Qualified Buyers in Minot? | Yes | ||
| Existing Home Prices for the past 90 days are | Increasing | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 5-10% | ||
| Housing Hot Spots | Minot, Burlington, Surrey, Kenmare, Velva | ||
| Reason to Buy/Sell | Population Growth | ||
| Average Sold Price | $225,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Clyde Thorne
Coldwell Banker 1st Minot Realty Minot, North Dakota 701-240-8594 cthorne@srt.com Agent Home Page 
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Minot Local News
News for Minot, ND - Thursday October 29th, 2009 4:16pm
The Senate is in the process of extending the $8000 First Time Home Buyer Credit. You would have to be locked into contract by April 30, 2010. Also, for the first time, exsisting home buyers may be eligible for a $6500 credit on their next purchase if they meet qualifying requirements. Hopefully this will pass.
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